Ocala Real Estate Talk

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Home sales were down from last month but that’s not surprising. March was the biggest month for sales since the market crashed. April is actually a great month in my opinion.

The big news is that inventory seems to be on a steady decline. As of today there are 4178 homes for sales on the Ocala Marion County MLS. That’s a huge decline from the dark days of 07-08 when there were over 7,000 active listings.

If you are waiting for the market to bottom out then this is it. A combination of brisk sales and a sharp decline in inventory are signs of the bottom.

I don’t think prices will go up in the short term. However I do think that there is a huge back log of out of state buyers. When these out of area buyers eventually sell their existing homes, competition may start to drive prices higher. After all the Ocala area has the lowest median home prices in Florida so there is no where to go but up.

Statistics used for this blog post are from the Ocala Marion County MLS and are deemed to be accurate at the time this blog was written but are not guaranteed. All information is time sensitive and subject to change without notice. Home sales are for Marion County only and do not include FSBO, homes sold by builders or by auction that were not  listed on the MLS, commercial properties or vacant land.

Horses by the fence an original photo by Joe Dallorso

Today is Kentucky Derby day. Of the 19 horses running in today’s race 15 have ties to Ocala. Some were bred here, others were trained here and a couple are locally owned. It’s not just the great winter weather that attracts some of the world’s best horse trainers and breeders. It’s the grass. Limestone soil adds minerals that grow strong bones and great race horses. And that’s why Ocala Florida is the horse capitol of the world.

Link to a very nice Kentucky Derby article in the Ocala Star Banner.

Update : Top 3 horses in Kentucky Derby had ties to Ocala farms.

Wild Flowers SW 80 Ave Ocala FL

It has been an unusually warm spring here in Ocala, with many days in April approaching 90 degrees.  Normally temperature in April should be in the low 80′s. It’s been dry as is to be expected in the winter and spring months here. The humidity won’t return until the end of May which is also the start of our wet season.

May temperatures are normally in the high 80′s and night time temperatures drop to the mid to high 60′s. By the end of the month it will get humid and stay humid until mid October. Afternoon thunderstorms should get going by the end of May too.

It’s always a sunny day here in Ocala. Even when you get rain it’s only for a few hours and the sun comes back out. If you’re sick of winter followed by cold raw rainy spring weather then move to Ocala. The hot and humid summers are a small price to pay for no winters.

There was a huge increase in Ocala area home sales in March. In March there were 455 sales in Marion county. That’s a huge increase from February with 328 sales. It has been years since our multiple listing service had over 400 sales in 1 month.  In addition we saw another decline in the number of active listings. Is this the beginning of a recovery?

Statistics used for this blog post are from the Ocala Marion County MLS and are deemed to be accurate at the time this blog was written but are not guaranteed. All information is time sensitive and subject to change without notice. Home sales are for Marion County only and do not include FSBO, homes sold by builders or by auction that were not  listed on the MLS, commercial properties or vacant land.

So far April 2011 has been unusually warm. Actually more like hot. We’ve had several days close to 90 degrees. This is unusual since our average high is closer to 80. We’ve also seen a good deal of rain so far this month with a series of fronts bringing much needed rain during our dry season. Even though the temperatures have been high there is no humidity this time of year so the weather is great.  The spring is the best time of year here in Ocala and it lasts from late February until the end of May when the humidity returns.

I often get buyers who are looking for a pool home in a 55+ retirement community.  There are very few homes with private pools in 55+ communities. Retirement communities all have clubhouses with a community pool. Some have outdoor and indoor pools. Others like Oak Run have several pools. If you prefer a private pool of your own then you should be looking in the non 55+ communities because 99% of 55+ listings do not have private pools.

Non 55+ communities usually don’t have a clubhouse and activities but there are plenty of retired residents every where here in Ocala. I live in a non 55+ community and when I go to my HOA meetings I’m one of the younger residents and I’m 56!

Sales were good for February but the big news is a decline in the number of listings. For the first time since I can remember listings went below 5,000. At one time in late 07 and early 08 we were up around 7500. We still have a little over 14 months of inventory but that’s way below the 30 months of inventory during those dark days of 2008.

As you can see we’re still selling plenty of foreclosures most of which are in the Shores and Marion Oaks. Short sales still lag behind foreclosures in the number of sales. Banks still can’t seem to get a handle on short sales and move then in a reasonable period of time. Short sales take from 8 weeks to 6 months or more to close and most buyers can’t or won’t wait that long.

It’s great weather in March in Ocala. The 80′s every day with no humidity and very little rain. Housing prices are the lowest in Florida. Call me, email me or use my Dream Home Finder and I’ll find you a house.

Statistics used for this blog post are from the Ocala Marion County MLS and are deemed to be accurate at the time this blog was written but are not guaranteed. All information is time sensitive and subject to change without notice. Home sales are for Marion County only and do not include FSBO, homes sold by builders or by auction that were not  listed on the MLS, commercial properties or vacant land

It’s March and spring has sprung here in Ocala.  The grass has turned from winter brown to green. An azalea in my yard has a few flowers. The day time temperatures are in the low 80′s. The nights are in the mid 50′s. I don’t need any heat or air conditioning so this is a month of lower electric bills. It’s dry with no humidity. March is one of the best months of the year here in central Florida.

Actually things began to warm up in mid February after a cold January and record cold December. January was unusually wet for the dry season but we saw almost no rain at all in February. We had several hard frosts but not as bad as last year.

If it’s still the dead of winter where you live then think about coming to Ocala. We have the lowest median home prices in Florida. As I always like to say “The hot humid summers are a small price to pay for no winters”

Ocala area home sales for January 2011 were pretty good considering sales were based on contracts written during the holidays. Actually compared to January 2009 sales last month were great. In January 09 there were only 135 sales in Marion County as compared to this year with 282 sales. In January 2010 there were 233 sales: a 20% increase in sales compared to 2010. As has been the case for a couple of years now sales were driven by foreclosures. January 2011 had 119 foreclosures accounting for 42% of all residential sales. Active listings are gradually going down and I expect that they will go below the 5,000 mark in the next month or two. I think home sales will be good in 2011 do to the fact that the Ocala area has the lowest median homes prices in all of Florida.

February in Ocala is the last month of our winter. Average temperatures are in the low 70′s. We can still get a light frost until early March but as I write this in early February the grass is already getting a little green. So far this month we’ve had a exceptional amount of rain and that’s a good thing in the dry season.

January was actually warmer then December or so it seemed. It was also unusually wet. I think the winter of 2010-11 will down in the record books as colder than normal.

If you’re up north dreaming of spring then you need to move to Ocala. I plan to start working in my yard next week. Around Valentines day is the best time to prune Crape Myrtle. I’ll also prune some other bushes and start spreading some mulch. I try to get all my gardening done by mid May before the humidity really gets going.

Remember, no mater how hot or humid the summers get, it’s a small price to pay for no winters.